With the approval of bitcoin spot exchange traded funds (ETF) by the SEC in Janaury, we started seeing some price action for bitcoin. In previous bull cycles, after bitcoin pumps, altcoins start to experience some price action; at least that was my thinking. So, I planned accordingly. I set aside some liquid $HIVE so that in the event that the price of HIVE started going over $1.23, I could start hitting some short positions. If the price of $HIVE start coming back under $1.00, I would start hitting my long positions.
Well, I haven't seen much price movement for HIVE in the past couple of months, so I think I'm better off putting my liquid HIVE away as HIVE Power and get back on track on my 8 year journey to 230,000 HP by 2030. I'm going to make a post about my HIVE goals soon, but here's a quick update on my progress:
| Current HP goal | 54,074 |
|---|---|
| Current HP | 45,238 |
| variation | -16.34% |
I started this goal on September 9th 2022, so being below my goal by 16% is not terrible.
Let's pull the trigger:
Boom!
Since I powered up at least 1,000, I got this cool badge with the biggest power up bee on Hive Buzz:
I think it's a cool way of adding some gamification to this monthly celebration. Who doesn't want a cool badge?
Of course, there are other, slightly more significant reasons I chose to power up today.
Why Power up?
My plan on HIVE is not a quick flip of a token. By holding staked hive in the form of Hive Power, I'm able to vote on decisions that need to be made on our blockchain. I use my stake to vote for the witnesses that I consider to be aligned with the interests of the network, and in the event that I see a witness behave in a way that is not aligned with my principles, I can help vote that witness out. I'm also able to cast larger upvotes to content creators here, which I hope will incentivize folks to create high-quality, educational or insightful posts. This is our prerogative as members of "the middle class" in the Hive ecosystem (dolphins and orcas).
Here are some estimated figures that will help you understand how much HP you need for each rank:
| RANK | Minimum Hive Power |
|---|---|
| Red fish | 58 HP |
| Minnow | 580 HP |
| Dolphin | 5,800 HP |
| Orca | 58,000 HP |
| Whale | 580,000 HP |
If you'd like to know what your rank is, you can visit hivebuzz, a project developed by the amazing arcange.
I have skin in the game and I'm here for the long haul.Powering up is also a way of putting my money where my mouth is. Hive is building some incredibly powerful #freedomtools to operate in a growing parallel economy. By constantly purchasing Hive, earning Hive and keeping it staked, I'm signaling to the community that
By sharing my HPUD post with the rest of the community, I also hope to bring some awareness (especially to the newer accounts) of the importance of having Hive Power as a member of the community. Spending money is fun and in a lot of cases, necessary. A lot of folks exchange the HIVE they earn for food, electricity and clothing. But by staking some of your tokens, you are not only able to earn more and help others earn more, you are able to vote on witnesses and proposals. So it's important to spread Hive power as far and wide as possible so that decision-making is not left to the few accounts with multi-million Hive stakes. Every account, no matter how small has influence.
Did you power up for HPUD?
Posted Using InLeo Alpha
Such a great post! I would like to see 100+ views on this post and that people READ it from the beginning to the END, not just write automatic comments without understanding it!
THIS! If we (ALL) would do this, the majority of HIVE issues would disappear!
That was something that we were talking about at the end of my presentation at #BuzzParty2024 in Hamburg (the @cbrsphilanthropy guy asked this question)... How do people from Venezuela spend ALL their earnings immediately after earning it... I do understand that people need food and clothes, but everyone can save a spare HIVE and put it in HP... Small steps...
I had the same thinking and did the same... lol... Powered up 1K HIVE...
Congrats on your power-up! Happy #HivePUD and keep preaching and doing what you are doing... It makes a difference!
Exactly, people in Venezuela spend HIVE and HBD too fast and so teh pool is being drained daily. When we had Haijin cleaning the SteemPool back in the day of Steem, everyone were very angry cause this was a huge flaw in the earning system. Heijin upvoted all his posts with huge amount of steem and he collected like 20K a month. But ok that's a diferent story.
So, Hive changed their motto and not tellig people that you can Earn on Hive but in Venezuela this is the only reason people are on Hive and they onboard people to Hive who will be earning and taking all away.
The reward.app has turned everything upsidedown and now since all the earnings can become liquid makes it more apealing to just withdraw everything. At least with the original system it was 50%/50% and I think that reward.app should be disabled.
Unfortunatelly, automatization things can't be disabled as there will always be ways to do it... look at Splinterlands and bots... You kill 3 "public" bots, while "secret" bots are still working...
Education of users could help, but on that side, people are too lazy to listen... lol...
Thank you for your detailed reply! love to read all your comments.
I ask the same question about real life. How is it possible that people don't save a little bit of money from their salary? I still haven't found the answer. But in HIVE specifically, I think a lot of newer/smaller accounts have still not figured out the benefits of giving up immediate rewards to have an even greater reward in the future. I think a lot of folks see HIVE as a crypto faucet.
I 100% agree with you! And because of that, posts like this one are important!!
Thanks for educating others!
Wow wow wow good friend, it's great to see your commitment to Hive Power, it's inspiring me greatly to work Harder. Your dedication to the long-term growth of the platform and your role in decision-making is inspiring. Keep up the good work man🫡🫡🫡
Thanks a lot! Yeah, I've made a plan to grow my Hive Power to orca status.
I believe it's my duty to help decentralize and distribute decision making on this blockchain.
Hey, I've seen you've been quite the busy bee on the platform. There are a bunch of posts on your blog I need to go back, read and upvote :) Engagement, community, interaction are all ingredients to making our community grow.
Wow wow wow. My good friend that would make me so happy to see your support to my blogs..... I've been working my butt off to grow on Hive because I really believe in it's future.. I invest every single dime I make on this platform, HBD goes to savings and Hive goes to HP.
Working like a horse right now,😂😂😂 I'm always happy to connect with good people like you that's why I'm so happy to be your friend and follower
I don't know if you're familiar with memes, but this came to mind after reading your post.
But in all seriousness, that is really impressive. I too am still waiting for Hive to go up, so I can play with a few of my liquid Hive, but it isn't budging.
Haha there you go!
I'm not too worried about the price at the moment. I thought it was going to pump, but it seems like that's not going to happen yet. No problem at all! I might come across some fiat I could turn into $HIVE. These are still sale prices.
Yeah I agree. And I don't know why but Hive is looking to go back below 0.3, so it seems you made the right decision.
A stimulating reflection for those who are just starting out, like me.
Thanks 🙏
Nice power up. People will use their rewards in different ways, but we need some to be buying $HIVE and powering up to spread the control and rewards. I'm not against others faffing out if it improves their life, but I've not needed to in a while. I powered up yesterday, but I may use some to fund my trip to Hivefest.
!BEER
Yes! More dolphin and orca accounts buying and powering up will counter-balance all the tiny accounts selling as well as the concentrating voting power of whales as well as the outflows from the DHF. Growing the amount of long-term dolphins and orcas has lots of benefits for the ecosystem.
Using some $HIVE to go to HiveFest is a huge YES! I hope I can make it this year, but it depends on a number of factors. I'll have to decide that in the coming weeks.
Decent power up, Alex. 👍🏻
Yes, thanks! I'm happy about it. I still got some liquid HIVE in my wallet. I'll do a large power up next month too.
1000 HP is already not a small one, 😜
That’s really huge. Congratulations to you on your power up and I can see how dedicated to Hive. Keep it up!
Thank you!
#hive #posh
Congratulations @alex-rourke! You have completed the following achievement on the Hive blockchain And have been rewarded with New badge(s)
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BEER.BEERHey @alex-rourke, here is a little bit of from @steevc for you. Enjoy it!HIVE .We love your support by voting @detlev.witness on